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Director converts 2,812 units into Stifel Financial (NYSE: SF) shares

Filing Impact
(Neutral)
Filing Sentiment
(Neutral)
Form Type
4

Rhea-AI Filing Summary

Stifel Financial Corp director Adam T. Berlew exercised equity units into common stock. On June 4, 2026, he converted 2,812 phantom stock units into an equal number of Stifel common shares at a stated price of $0.00 per share, reflecting a compensation-related, non-cash transaction. Following these conversions and related adjustments, Berlew directly holds 24,475 shares of Stifel common stock. The reported share total has been adjusted for a 3-for-2 stock split payable on February 26, 2026, indicating the figures reflect the post-split share count.

Positive

  • None.

Negative

  • None.
Insider Berlew Adam T.
Role null
Type Security Shares Price Value
Other Phontom Stock Unit 2,812 $0.00 --
Exercise Common Stock 2,812 $0.00 --
Holdings After Transaction: Phontom Stock Unit — 0 shares (Direct, null); Common Stock — 24,475 shares (Direct, null)
Footnotes (1)
  1. This total has been adjusted to reflect the 3-for-2 stock split payable on February 26, 2026. Currently exercisable. No expiration date for these Units
Units converted 2,812 units Phantom stock units converted into common stock on June 4, 2026
Shares received 2,812 shares Common stock issued upon conversion of phantom stock units
Price per share $0.00 per share Stated transaction price for conversion into common stock
Post-transaction holdings 24,475 shares Common shares directly owned by Berlew after transactions
Restructured units 2,812 units Restructuring-related phantom stock unit transaction reported as other
Stock split ratio 3-for-2 split Split payable on February 26, 2026, used to adjust totals
Phontom Stock Unit financial
"security_title: "Phontom Stock Unit""
3-for-2 stock split financial
"adjusted to reflect the 3-for-2 stock split payable on February 26, 2026"
Exercise or conversion of derivative security financial
"transaction_code_description: "Exercise or conversion of derivative security""
Other acquisition or disposition financial
"transaction_code_description: "Other acquisition or disposition""
No expiration date for these Units financial
"footnote text: "No expiration date for these Units""
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Form 4 Insider Transactions: What Each Field Means →
SEC Form 4
FORM 4UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP

Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934
or Section 30(h) of the Investment Company Act of 1940
OMB APPROVAL
OMB Number:3235-0287
Estimated average burden
hours per response:0.5
Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).
Check this box to indicate that a transaction was made pursuant to a contract, instruction or written plan for the purchase or sale of equity securities of the issuer that is intended to satisfy the affirmative defense conditions of Rule 10b5-1(c). See Instruction 10.
1. Name and Address of Reporting Person*
Berlew Adam T.
(Last)(First)(Middle)
501 NORTH BROADWAY
(Street)
ST. LOUIS MISSOURI 633102
(City)(State)(Zip)
UNITED STATES
(Country)		2. Issuer Name and Ticker or Trading Symbol
STIFEL FINANCIAL CORP [ SF ] 		5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)
XDirector10% Owner
Officer (give title below)Other (specify below)
2a. Foreign Trading Symbol
3. Date of Earliest Transaction (Month/Day/Year)
06/04/2026		6. Individual or Joint/Group Filing (Check Applicable Line)
XForm filed by One Reporting Person
Form filed by More than One Reporting Person
4. If Amendment, Date of Original Filed (Month/Day/Year)

Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
1. Title of Security (Instr. 3) 2. Transaction Date (Month/Day/Year)2A. Deemed Execution Date, if any (Month/Day/Year)3. Transaction Code (Instr. 8) 4. Securities Acquired (A) or Disposed Of (D) (Instr. 3, 4 and 5) 5. Amount of Securities Beneficially Owned Following Reported Transaction(s) (Instr. 3 and 4) 6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4) 7. Nature of Indirect Beneficial Ownership (Instr. 4)
CodeVAmount(A) or (D)Price
Common Stock06/04/2026M2,812A$024,475(1)D
Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned
(e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security (Instr. 3) 2. Conversion or Exercise Price of Derivative Security 3. Transaction Date (Month/Day/Year)3A. Deemed Execution Date, if any (Month/Day/Year)4. Transaction Code (Instr. 8) 5. Number of Derivative Securities Acquired (A) or Disposed of (D) (Instr. 3, 4 and 5) 6. Date Exercisable and Expiration Date (Month/Day/Year)7. Title and Amount of Securities Underlying Derivative Security (Instr. 3 and 4) 8. Price of Derivative Security (Instr. 5) 9. Number of derivative Securities Beneficially Owned Following Reported Transaction(s) (Instr. 4) 10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4) 11. Nature of Indirect Beneficial Ownership (Instr. 4)
CodeV(A)(D)Date ExercisableExpiration DateTitleAmount or Number of Shares
Phontom Stock Unit$006/04/2026J2,812 (2) (3)Common Stock2,812$00D
Explanation of Responses:
1. This total has been adjusted to reflect the 3-for-2 stock split payable on February 26, 2026.
2. Currently exercisable.
3. No expiration date for these Units
/s/ Adam Berlew06/08/2026
** Signature of Reporting PersonDate
Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
* If the form is filed by more than one reporting person, see Instruction 4 (b)(v).
** Intentional misstatements or omissions of facts constitute Federal Criminal Violations See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
Note: File three copies of this Form, one of which must be manually signed. If space is insufficient, see Instruction 6 for procedure.
Persons who respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB Number.
* Form 4: SEC 1474 (03-26)

Source: View Original Filing on SEC EDGAR

FAQ

What insider transaction did Stifel Financial (SF) director Adam T. Berlew report?

Adam T. Berlew reported converting 2,812 phantom stock units into 2,812 shares of Stifel Financial common stock. The transaction occurred on June 4, 2026 and reflects a compensation-related equity conversion, not an open-market stock purchase or sale.

How many Stifel Financial (SF) shares does Adam T. Berlew hold after this Form 4?

After the reported transactions, Adam T. Berlew directly holds 24,475 shares of Stifel Financial common stock. This total is stated as adjusted for the company’s 3-for-2 stock split payable on February 26, 2026, so it reflects post-split holdings.

Did Adam T. Berlew buy or sell Stifel Financial (SF) stock on the open market?

The filing shows no open-market buys or sells by Adam T. Berlew. Instead, he converted 2,812 phantom stock units into an equal number of common shares at a stated price of $0.00 per share, indicating a non-cash, compensation-related transaction.

What is the significance of the 3-for-2 stock split mentioned in the Stifel (SF) Form 4?

The Form 4 notes Berlew’s share totals are adjusted for Stifel’s 3-for-2 stock split payable on February 26, 2026. This means the 24,475 post-transaction shares reported already reflect the higher post-split share count rather than the pre-split amount.

What type of derivative security did Adam T. Berlew convert at Stifel Financial (SF)?

Berlew converted phantom stock units into common stock. The Form 4 reports 2,812 phantom stock units tied to underlying Stifel common shares, which were exchanged one-for-one into 2,812 common shares as part of a compensation and restructuring-related transaction.